Com2us has reported its financial results for the first quarter of 2017. Total revenue was 120.3 billion won (~$107.8 million), marking the sixth quarter in a row quarterly earnings were above 100 billion won. It also represented a 9% decline from year over year. Net income was 36.7 billion won (~$32.9 million), an 8% decline year over year. The numbers also represent a decline from the previous quarter.
Most of the company’s revenue continues to flow in outside of South Korea, with 89% of its revenue (106.6 billion won, ~$95.5 million) of its total earnings coming from overseas sales.
In a statement, Com2us claimed that its performance “reflects the strength of new and existing titles in its games lineup that have built a loyal player base.” The company’s flagship title, Summoners War, is supposed to represent “the company’s commitment to offering players a premium mobile gaming experience and providing its community with industry-leading customer service.”
More practically, the three year old mobile RPG has become the first South Korean mobile game to surpass 1 trillion KRW ($~896 million) in lifetime revenue. Com2us expects Summoners War to reach $1 billion in lifetime revenue in June. The company also claims strong first quarter contributions from MLB 9 Innings 17 and Golf Star.
The company plans to expand its key IPs outside of the mobile space and into eSports, merchandising, and Film/TV media. As part of those efforts, Summoners War will also continue to receive substantive content updates, some of which will include Guild Sieges and game modes optimized for eSports. The company will also continue its efforts to develop an MMORPG based on the IP for launch in early 2018.
As part of its eSports push, Com2us has partnered with Amazon and Twitch to launch a Summoners War US tournament on June 24, during the K-Con event in New York City. After the US tournament, the company will invite players from all over the world for a global tournament. The global tournament’s date and location have not yet been decided.
In addition to the company’s collaboration with MLB for its MLB 9 Innings series, Com2us has come to an agreement with Activision to develop a mobile game based on the Skylanders franchise. The as-yet unnamed title is currently slated for an early 2018 launch. Upcoming 2017 releases include tactical action RPG Majestia, anime-inspired golf game Birdie Crush, a VR version of Ace Fishing, and Heroes War 2.